Yet Amara shares are just 17.25p because the mine, Yaoure, is a good two years from production and sentiment towards gold remains uncertain. At this price, the stock is well worth a punt.

Even if gold hovers at current levels, Yaoure is an extremely attractive asset, so Amara will probably find the resources to take it into production or be gobbled up by a larger rival. Either outcome would benefit shareholders. An adventurous buy.

Sunday Telegraph

United Utilities, the UK’s largest listed water utility, increased dividend payments by 5 per cent as profits for the full year surged ahead in results last week.

The risk when investing in water companies is that returns are governed by the regulator, United Utilities is now in heated talks with Ofwat over its plans for the next five years until 2020. If the regulator pushes for a harsher settlement, profits and dividend growth could be lower.

The water utility has also benefited from historically low borrowing costs. This is not a problem at the moment but worth keeping an eye on with base rate increases mooted from next May.

All this leaves investors in a quandary. On the one hand, United Utilities is reporting rising profits, strong free cashflow and inflation-linked dividend increases. The shares also offer a safe haven and as such have soared this year. Investors should remember though that reported results are backwards looking.

There are two big issues on the horizon that increase risk: wrangling with the regulator and rising interest rates. Questor believes the price- earnings ratio at 19.2 times reflects far too rosy a view of the future and the shares are no better than a hold.